Whats your primary chart time frame for day trading?

What's your primary chart time frame for day trading?

  • 1 min chart

    Votes: 50 20.2%
  • 2 min chart

    Votes: 7 2.8%
  • 3 min chart

    Votes: 15 6.0%
  • 5 min chart

    Votes: 91 36.7%
  • 10 min chart

    Votes: 15 6.0%
  • 15 min chart

    Votes: 17 6.9%
  • 30 min chart

    Votes: 11 4.4%
  • 60 mins or longer chart

    Votes: 23 9.3%
  • Other min chart (please specify in thread)

    Votes: 4 1.6%
  • I don't use a chart!

    Votes: 15 6.0%

  • Total voters
    248

Sharky

Admin
5,648 439
A survery to find out what time frames traders are watching most closely for timing their trades.
 

options

Senior member
2,374 218
Sharks. Unfair.

I'm a multi time frame fan. No choice up there for that.

So any or all that are relevant to my needs at the time.

(Knew I should have been a politician.) (Thing is I can't stand the arseholes!)
 

Sharky

Admin
5,648 439
Do you use one timeframe as your primary entry chart - using a longer timeframe for confirmation?
 

options

Senior member
2,374 218
Ok serious stuff now then.

Charts I use are 1/5/15/60/daily. I find the tick chart to be too whippy.

"primary entry chart"

All of them!

I could use any one of them alone for entry but prefer to use all together to enter, run and exit. To fine tune the entry I use a minute chart. But it is what is shown in those charts along with indicators if any, and how you 'read' what is in front of you that matters.
 

Thirteen

Active member
160 0
agree with options

trading needs flexibility not rigidity
 

timsk

Legendary member
7,605 2,379
Of the 11 or so who don't use a chart at all - maybe they're all Nasdaq traders who use level 2 exclusively. Possible I suppose, but unlikely. This begs the question - what do they use - gut feeling, the stars, the ratio of red trafic lights vs green ones on the way to work? Answers on a post card please.
Tim.
 

FetteredChinos

Veteren member
3,897 40
Timsk, i use granny's tea leaves.

actually a bit of a leading indicator.



actually no, i base my main trading around 2 numbers. high and low of the previous day. that is all.


having said that, i spent most of last night developing some pattern prediction stuff in excel. i really should get out more.


:)

FC
 

Thirteen

Active member
160 0
tim - the answer to your question could well be the numbers alone - the spread in particular. thats what they use in the pits, the screen is no diff.

13
 

TheBramble

Legendary member
8,394 1,170
13 - What do you mean 'the spread in particular'?

How do you use this to gauge potential price action?
 

Thirteen

Active member
160 0
bid - offer.

scalping - neutral strategy. dont care on direction as long as ur kwik
 

timsk

Legendary member
7,605 2,379
FC,
I always have the previous day's chart on view to note areas of S&P. Of particular interest are that days high/low. Having said that, I wouldn't enter a trade based purely on this set up, although I may well exit one. I'm interested in your strategy - is it based on historical data whereby you know that if the instrument you're trading breaches the previous day's high there's better than say (for arguements sake) 70% probability that it will advance another x% of the average daily trading range? Vice versa for shorts. And, if I may be so bold, can I enquire if your strategy is profitable?
Cheers,
Tim.
 

FetteredChinos

Veteren member
3,897 40
timsk. kind of...its more based on cycles...


the FTSE seems to have what seems to be a 3-day cycle in it, ie when there are no outside shocks (eg pesky bombs going off)

i use the high/low to gauge the current day in relation to where we should be..

for the sake of not going into the full method, if we havent had a new high for 2 days, then its time to go long, and vice versa for a short. then the market generally (approx 75% of the time) pulls itself back to roughly where it was before (depending on the trend it could be shifted a fair few points in each direction) there are other entry criteria, based on prev days range and what have you but these are staying private for a while at least.

im trading a version of this in my journal. sadly im currently long in this sell-off, which is a pain i can tell you..thought i was going to be going short tonight too, but then the late sell-off put pay to that.

in backtesting, over a 15 trade period it never had a losing period, which is what keeps me going in tricky times such as this.

FC
 

timsk

Legendary member
7,605 2,379
Cheers FC. Rivalland may be of interest to you if you've not already read him. Good luck with your long.
Tim.
 

Newtron Bomb

Experienced member
1,602 87
I use multiple time frams and multiple strats

FX Trading
Muliple time frames 15 (for entry) 60 240 daily & monthly
Also a no chart strat so i'm not tied to machine

NASDAQ Trading
multiple time frames 1, 5 (for entry) & daily

Futures
Multiple time frames15 (for entry) 60 240 daily & monthly
Also a no chart strat so i'm not tied to machine

Commodities
Occasional punt on gold but dont use charts to trade it

Happy Trading
NB
 
 
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